Foreign Direct Investment

Several major Chinese law firms have set up new offices in Hainan since 2018

SEC to require Chinese issuers clarify VIE structures and whether listing has government backing; SPC issues judicial interpretation with restrictions on commercial applications of facial recognition technology; and MOFCOM unveils separate negative list for cross-border trade in services in Hainan

Entities and individuals may bear legal liability for failure to enforce or cooperate in the implementation of sanction countering measures

Restrictions on establishment of entertainment venues are relaxed for foreign investment

Regulations are revised emphasizing the public welfare attribute of private education

Foreign producers of specific foodstuffs require recommendations by their relevant government department

Operators of critical information infrastructure bear heightened counter-espionage security obligations

Foreign insurance group companies and non-insurance financial institutions may become shareholders of foreign-invested insurance companies

SEC unveils amendments to implement law targeting U.S.-listed Chinese companies; China outlines plans to improve workers' protections in platform economy; and NDRC streamlines approvals process for foreign investment in encouraged industries